Engineering firms in expansion mode may be a positive leading indicator
Overall office leasing activity during Q2 2026 remained positive at 0.9 million square feet (msf), marking the third consecutive quarter of solid activity. As foreshadowed in the Q1 report, Calgary experienced increases in engineering and other energy-sector support services jobs during the second quarter, which may prove to be a leading indicator of future office space uptake. These firms are benefiting from increased federal defense spending, as well as contracts for renewable energy projects, battery energy storage systems and grid integration design, along with renewed stability across the broader energy sector. Overall, office availability was flat quarter over quarter, remaining at 20.7%. Downtown availability is expected to increase over the medium term. This anticipated increase, however, may be partially offset by future adaptive reuse projects, more of which are reasonably expected as the concept continues to gain momentum.